Business intelligence sounds like something the CIA or ASIO might hold; a precious piece of leverage that can be utilised to their advantage. And funnily enough, that description might not be too far off the mark when we are talking about your business intelligence.
Business intelligence is the amalgamation of your data into a centralised repository, to allow you to easily make data-driven decisions about your company, your customers, your industry, your competition...
I could go on, but I think you get the idea. The potential of your business intelligence is enormous and key insights into your business can be served with unbeatable accuracy, in real-time and in easy to consume graphs and data visualisations.
It sounds like a utopia and the great part about it is, any business can get there.
When you digitise and centralise your data and then bring digital data analytics tools like Power BI into the mix, you are creating efficiencies in data interpretation that business owners before the age of digital could have only dreamed of.
Many organisations have begun the process of keeping their data in electronic format. Whilst that is a good first step, the key to turning disparate data sources into business intelligence is in centralising and connecting all of this information. You have many options available to you in order to achieve this, but none really leverage big data, infrastructure and interoperability quite like Microsoft’s Power BI can. And once you have your data centralised and a business intelligence platform like Power BI in place, you now have complete access to what is essentially the engine room of your company.
With business intelligence, you can analyse where you might be able to create a competitive advantage and edge away from your opposition. You can observe and rectify business process breakdowns, before they become a true scourge on efficiency. You don’t have to wait for monthly/quarterly/half-yearly board meetings to be across how you’re tracking towards revenue; instead, you can stay across this in real-time and make strategic decisions early enough to ensure revenue targets are met.
Business intelligence will help you understand your consumer better and the sentiments of your staff.
If you have the data and you’re leveraging the digital analytics tools available, the benefits of business intelligence are truly endless. If you would like to learn more about the benefits of being a data enabled company, REDD Digital would love to talk with you.
Please get in touch and we’d be happy to discuss business intelligence with you today.
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